We are always looking for ways to improve our business. We want to eliminate inefficiencies and increase our profit margins. Sometimes the answer is not as clear as we typically think. Many people think that their workers are not doing their best or that our new...
The accounts payable section of our business is typically strenuous on our eyes and minds. After a few hours, numbers begin to switch places, things go missing, and we feel like we are losing our minds. A perfect example of why transposition in the most common accounting error. A switch between two digits can cause hours of confusion and miscommunication. Today we’ll be going over the most common mistakes made in accounts payable.
Online payment methods are regularly used around the world. The only difference between how you pay and how your customers pay around the world is the norms of their geographic location. Below are the most popular forms of online payment based upon the region of the...
Have you ever seen a picture of yourself from years ago and wonder, “Where did that shirt go?” You start in the closet and tirelessly check through every hanger and every shelf. You swear the shirt was in there, but it still seems to be lost. You are so determined to...
Before the calculator was made, how long do you think it took to accurately complete a balance sheet? The calculator, a device everyone has on their phone, used to not exist and the creation of this device alleviated the stress of many jobs that required rigorous...
Employees and outsiders may be taking advantage of your weak internal control system for your accounts payable to siphon extra money off the top. We’ll explain the downsides of a weak internal control, how to identify these problems, and how to make your internal control system even more effective.